World trade organisation and developing countries

International Trade as an activity has become a strategic importance in the development of a developing economy. Markets have now-a-days become undoubtedly global for many goods, services and especially for financial instruments of all types. World Trade Organisation is playing a very important role in international trade. India was one of the founder members of the WTO. The objectives of the present study are to know the reasons for intemational trade, examine the role of WTO and ascertain the various possible challenges which developing countries are facing. A sincere effort is also being made to suggest some measures like producing goods at low cost, technical assistance etc., and to strengthen the competitive position of the developing countries. It is concluded that the international business has become almost a part and parcel of the economic development. Developing countries have to strive hard to gain as much share of the pie as possible. Being a dominant member at the world body, India has a very bright future in the field of international trade.